This week marks the beginning of the new month and also a new calendar year.

Participants will be eyeing auto sales number which starts pouring in from the beginning of the month. Besides, macroeconomic data such as core sector data and IHS Markit India Manufacturing PMI are scheduled on December 31 and January 2, respectively.

We expect the prevailing consolidation to extend further and Nifty to hover within 12,100-12,400 zone.

However, there will be no shortage of trading opportunities as movement on the stock-specific front would continue on both sides. Traders should focus more on stock selection.